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2 . The startup AndersonVenture had an A - round in which it sold 1 0 million shares of convertible preferred stock at $ 1

2. The startup AndersonVenture had an A-round in which it sold 10 million shares of convertible preferred stock at $1.00 per share. Prior to the Series A financing, Management owned 15 million shares of common stock and the Conversion Price of preferred stock to common stock was 1:1. AndersonVenture needs to raise an additional $5 million in a series B round and learns that new investors insist on a pre-money valuation of $15 million. Please create a fully diluted capitalization table after the Series B investment, under three scenarios:
a. There is no dilution protection for prior investors.
b. There is full ratchet protection.
c. There is weighted average dilution protection.

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